Honeywell and RAKBANK announced a strategic guaranteed energy savings project to help improve energy efficiencies and carbon reduction goals, in support of Ras Al Khaimah’s Energy Efficiency and Renewable Energy (EE&R) Strategy 2040
In the first energy project of this type for RAKBANK, Honeywell will optimise heating, ventilation and air conditioning (HVAC), building management system (BMS) and chillers within RAKBANK’s headquarters building, located in Ras Al Khaimah, spanning a total area of 19,900 sq m. As a certified Energy Services Company, Honeywell will implement energy efficient measures based on a Guaranteed Energy Savings approach over the five-year agreement. Honeywell will also regularly assess and improve the energy saving performance of the building's systems to identify opportunities for further energy savings.
“Honeywell is committed to furthering sustainability efforts in the region and supporting leading organisations in enabling their ESG goals, by identifying energy savings and reducing their carbon footprint,” said Umar Khan, general manager of sustainability, smart cities and energy, Honeywell Building Technologies, Middle East, Turkey and Africa. “We’re looking forward to supporting the sustainability targets of RAK Vision 2030 and showcasing our ready now approach to energy optimisation and benefits of remote building monitoring.”
Deepak Majithia, group chief financial officer at RAKBANK, commented, “We at RAKBANK are aware that sustainability is a journey that requires every individual to play an active role. We are committed to incorporating our ESG framework in all the business verticals of the Bank, especially its operations. Our partnership with Honeywell is a great step forward in this space, and it is a pleasure to be working with such like-minded partners.”